Blog

Daily Market News- 4 Mar 2015

Iran Customs released statistics report in which demonstrated UAE and China as the main importers during the past 11 months of the year ending 20 Mar 2015. Regarding the export, the most traded goods belong to Gas Condensate and petrochemical products such as Propane, Butane, and Methanol with share of 29.53 and 28.39 respectively. Based on this report, during the past 11 months the value of exports has increased by 22.05 percent, while the value of imports recorded only 12.3 percent growth during this period.

Iran Carbon and Petrochemical Industrial Investment companies’ share have a high correlation and during the past few days the investors has shown a keen interest to both. Recently, the Iran Carbon company held a meeting with its investors and some legal active market members in which clarified its latest activities. Apparently the company has got the license to export its Carbon Black and a commercial contract has been signed with a Turkish company for exporting almost 1000 tons Black monthly. In addition the proceeds from the sale of a company’s property in Ahwaz are used for buying a high tech manufactory named Sadaf which will be added to the other productive lines of the company. However the main problem of Carbon manufacturers is the imported Black from China which leads to their sale and operation profits reduction. Regarding to this matter the company has negotiated with the Industry Ministry and it has been set to impose more tariffs on imports from next year. It’s noteworthy to mention that Iran carbon Co. is one the subsidiaries of the Petrochemical Industrial Investment Co. (PIIC). On the other side, PIIC has some disputes with Petrochemical Commercial Co. (PCC) and the court has sentenced PIIC for paying 640 IRR bn due to its debts. However, the company has appealed and suspended the vote.

Pegah Khorasan Dairy Co. released its budget for the year ending 20 Mar 2016 with 985 IRR forecasted EPS. The company’s current year EPS was forecasted 187 IRR, 126 IRR of which was considered from selling properties. For year started from 21 mar 2014, the company predicted 100 IRR bn incomes from selling its properties and 90 percent of it has already been received and spent for debt repayments of farmers and supplier companies. Practically, no further resources remain for the company’s future. However, by eliminating this number from EPS, the next year EPS has been adjusted positively by 10 percent. The company has considered 15 to 20 percent increase in its most products’ rates. The company predicted 19 percent growth in rate of Crude milk for next year. The same rates are considered for sales. The company’s gross profit margin was forecasted 8.5 percent for current year which has been improved to 10 percent for year ending 20 Mar 2016. Although the market demand has decreased and most of the products have been supplied with promotion, the company has increased the sale volume illogically. Moreover, the company has announced 180 IRR cash dividend for next year which was 550 IRR for current year. The share is already facing the sale pressure on 6400 IRR level and its first support line is at 6050.

TSE at Glance

TSE at Glance

IFB at Glance

IFB at glance

Trading Halts & Delays

Trading Halts & Delays

Codal Release

Codal release

Market Overview

The last trading day of the week started and continued with no agitation like the previous days. Netanyahu’s speech in US congress also passed and it was quite predictable following his pervious claims. His speech seemed more like an election campaign rather than convincing PMs to take action against Iran. The early trades demonstrated that the market paid no attention to this matter. The market is waiting for more news from nuclear negotiations. Before starting any bullish trend, the market needs to become stabilized which is fortunately taking place.

DISCLAIMER: This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice.